If you've had your eye on a classic Chanel handbag, it might be time to make your move. New York shop assistants say the price of the timeless bags will jump on February 1. While it's not clear how much more we'll be paying yet, estimates range from $50 to nearly $350.

It might seem hard to justify such a price increase in the midst of a global recession, but Chanel can get away with because demand hasn't waned. These designer bags have waiting lists ranging from 30 people to a few hundred. While bagistas willingly wait to get their mitts on a Chanel purse, I suppose the label can charge whatever it likes!

But take heart Chanel lovers. If your favorite quilted handbag now seems even more out of reach, there's always eBay. While some in-demand styles are auctioned off at prices higher than retail, there are still some bargains to be had.